Markets

Janney Capital Markets is concerned that Standard & Poor's ratings for some local governments may be too high and out of step with current credit conditions.

New-issue volume is expected to nearly double this week as a unique $1.4 billion California transportation financing leads off the activity in the primary market following last week's holiday-shortened calendar of deals.

Municipal bond funds reported outflows for the first time in 10 weeks.

The Bond Buyer's muni bond indexes weakened the week ending July 10.

The second half of 2014 promises more positive returns for municipal bonds even as investors react to declining credit quality in Puerto Rico, according to midyear analyst reports.

Tax-exempt money market funds raked in $6.22 billion, the biggest weekly inflow in five years, as total net assets rose to $258.75 billion in the week ended July 7, according to The Money Fund Report, a service of iMoneyNet.com.

Municipal bond fund inflows fell to their lowest levels in the last nine weeks during the week leading into the Fourth of July holiday.

Texas Municipal Utility Districts have come far from their dirt-bond past and are expanding to keep pace with growth while supplying a lean muni market with higher-yielding bonds, experts say.

The Bond Buyer's muni bond indexes were narrowly mixed in the week ending July 2.

Details are starting to emerge on an opaque part of the market, as issuers respond to a Standard & Poor's request for disclosure on municipalities' direct loans.